Legal Question in Family Law in Illinois
Two years ago my wife and I completed a "no-fault" divorce through the Dupage County court system in Wheaton, Illinois, agreeing to no claim on either person's property. We lived in the home I owned when we were married four and a half years earlier. Shortly after our marriage we refinanced our mortgage loan at better rate and my wife's name was added to the deed and the mortgage. When we were divorced, by Illinois law my wife had no claim on the home because it was my property when we wed. After the divorce, I didn't remove my now ex-wife's name from the mortgage loan immediately. By the time I tried to do so, the country was in the middle of the current mortgage crisis, and I was unable to get the mortgage holder, Bank of America, to allow my ex-wife's name removed from the loan. Instead I had to apply for a new loan and BofA denied my application. Now, my ex-wife is demanding I get her name removed from the loan or she will seek legal action. Finally my question: What legal action is available to her, if any, to force me to pay off the loan in order to remove her financial responsibility? I can't really afford to do that and am not anxious to try and sell my home in the current market. Thank you for any guidance you can give.
1 Answer from Attorneys
You say, on one hand, that the home is your home only, yet you also say that you signed a deed adding your wife as an owner. Did you and your wife provide in the judgment that she would transfer her interest back to you, or did you both ignore the problem. If she is a joint owner, your statement that you are the owner is not rue. If she transferred it back to you, you both probably violated the provisions of the mortgage ragrtding transfer, which would allow the mortgage company to call in the loan. Practically they will not due that, However did your judgment require you to refinance? If you did you have to do it. Go to another lender. nothing says to have to stay with BoA.
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